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News Summary: Amazon.com posts 2Q loss

Published on NewsOK
Modified: July 25, 2013 at 7:18 pm •
Published: July 25, 2013

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SURPRISE: Amazon.com Inc. on Thursday reported a loss in the second quarter when analysts were expecting a profit, as higher revenue was not enough to make up for rising operating expenses.

SPENDING SPREE: The world's largest online retailer has been spending heavily on order fulfillment and digital content rights, which continue to weigh on profit margins.

THE NUMBERS: Amazon lost $7 million, or 2 cents per share, in the April-June quarter. That's down from earnings of $7 million, or 1 cent per share, a year ago. Revenue rose 22 percent to $15.7 billion.